Philippines Pushes Groundbreaking Bitcoin Reserve Legislation - A Bold Move Into National Crypto Holdings

MANILA TAKES THE PLUNGE INTO BITCOIN RESERVES

The Philippines isn't just dipping toes—it's diving headfirst into crypto sovereignty with proposed legislation that would make Bitcoin part of the national treasury. This isn't another central bank digital currency experiment; this is raw, unadulterated Bitcoin on a country's balance sheet.

WHY THIS SHIFTS EVERYTHING

Forget private corporations—nation-states holding Bitcoin changes the entire custody game. The Philippines could become the first Asian nation to formally embrace Satoshi's creation as reserve assets, potentially triggering domino effects across emerging economies tired of dollar dependency.

THE REGULATORY LANDSCAPE JUST EXPLODED

Traditional finance bureaucrats are scrambling—this legislation bypasses decades of monetary orthodoxy in favor of programmable, borderless hard money. No more waiting for IMF approvals or worrying about inflation thresholds.

Of course, Wall Street bankers will call it reckless right before quietly allocating their own funds into BTC ETFs—because nothing says hypocrisy like criticizing while simultaneously front-running the trade.

Details of the proposed bill

Congressman Miguel Luis “Migz” Villafuerte has filed House Bill 421, which would mandate the Bangko Sentral ng Pilipinas (BSP) to purchase up to 2,000 Bitcoin annually for five years, reaching a maximum reserve of 10,000 BTC.

The legislation specifies that the bitcoin must be stored across multiple secure facilities under central bank oversight to minimize risks and enhance resilience.

A push for financial security

Villafuerte argues that diversifying beyond traditional assets such as Gold and US dollars will strengthen the Philippines’ financial stability.

He described Bitcoin as “digital gold” that could protect the country’s balance sheet from global shocks and reduce reliance on the US dollar.

The congressman pointed to examples in El Salvador, Brazil, Switzerland, and Poland, as well as US Senator Cynthia Lummis’ ongoing proposal, as inspiration for the move.

Long-term holding requirements

The bill imposes strict conditions: the BSP WOULD be prohibited from selling or encumbering the Bitcoin for at least 20 years, except to retire government debt.

One year before the lock-up ends, the central bank must report to Congress on whether to extend the holding period or begin gradual sales, limited to 10% of the reserve every two years.

Regional and global significance

If enacted, the Philippines would become the first Asian country to legislate a sovereign Bitcoin accumulation strategy, joining a growing list of nations exploring bitcoin reserves as part of their financial policy.